New York City Transitional Finance Authority's Fiscal 2011 Series C Bonds Rated 'AAA'; Outlook Stable Jan 11

  • ID: 1858525
  • January 2011
  • Region: New York
  • Standard & Poors
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NEW YORK (Standard & Poor's) Jan. 6, 2011--Standard & Poor's Ratings Services assigned its 'AAA' long-term rating, and stable outlook, to New York City Transitional Finance Authority's (TFA) fiscal 2011 future tax secured series C bonds. In conjunction with this bonds issuance, Standard & Poor's affirmed its ratings on TFA's parity bonds, which include senior bonds, subordinate bonds, and recovery obligation bonds. Credit factors supporting the bond program include what we view as: A strong bond structure that separates the revenue stream supporting the bonds from both New York City and New York State; New York City's substantial and diverse economic base that supports pledged revenues, with a resident population base of more than 8 million that has steadily expanded....

Companies mentioned in this report are:
- New York City Transitional Fin Auth

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- New York City Transitional Fin Auth

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